Need Help with Code Review

givemefood

New member
Here's a code I drafted early last week to produce a list of S&P500 stocks that match the 3 EMA (15, 50, 100) criteria on a 5 min aggregation period. The scanner produces nothing. However, when I manually search for the last 5-minute candles of S&P500 stocks, a number of stocks matched the criteria.
What's wrong with the code? What do I need to fix?
Please help.

Many thanks.

Code:
input choice = {default "Above","Below"};
input price = close;
input start_price = open;
input AverageType = averagetype.EXPONENTIAL;

def ma1 = movingAverage(averageType,price,15);
def ma2 = movingAverage(averageType,price,50);
def ma3 = movingAverage(averageType,price,100);


plot scan;
switch (Choice){

case "Above":

    scan = ((start_price >= ma2) OR (start_price < ma2) AND start_price > ma3) AND (price < ma1 AND price < ma2 AND price < ma3);

case "Below":
  #  scan = price < ma1 < ma2 < ma3;
    scan = (start_price <= ma3 AND start_price < ma2) AND (price > ma2 AND price > ma1);
}
 
You do not need to create any script for this sort of scan. You can build one from the Scan Custom Filter.

b2uYp0j.png
 
Thanks BenTen.. That's really nice. I also want the open of the candle to meet the EMA criteria. How would I add those to the conditions?

NM... Figured it out. Thank you.
 
Last edited by a moderator:

Join useThinkScript to post your question to a community of 21,000+ developers and traders.

Similar threads

Not the exact question you're looking for?

Start a new thread and receive assistance from our community.

87k+ Posts
220 Online
Create Post

Similar threads

Similar threads

The Market Trading Game Changer

Join 2,500+ subscribers inside the useThinkScript VIP Membership Club
  • Exclusive indicators
  • Proven strategies & setups
  • Private Discord community
  • ‘Buy The Dip’ signal alerts
  • Exclusive members-only content
  • Add-ons and resources
  • 1 full year of unlimited support

Frequently Asked Questions

What is useThinkScript?

useThinkScript is the #1 community of stock market investors using indicators and other tools to power their trading strategies. Traders of all skill levels use our forums to learn about scripting and indicators, help each other, and discover new ways to gain an edge in the markets.

How do I get started?

We get it. Our forum can be intimidating, if not overwhelming. With thousands of topics, tens of thousands of posts, our community has created an incredibly deep knowledge base for stock traders. No one can ever exhaust every resource provided on our site.

If you are new, or just looking for guidance, here are some helpful links to get you started.

What are the benefits of VIP Membership?
VIP members get exclusive access to these proven and tested premium indicators: Buy the Dip, Advanced Market Moves 2.0, Take Profit, and Volatility Trading Range. In addition, VIP members get access to over 50 VIP-only custom indicators, add-ons, and strategies, private VIP-only forums, private Discord channel to discuss trades and strategies in real-time, customer support, trade alerts, and much more. Learn all about VIP membership here.
How can I access the premium indicators?
To access the premium indicators, which are plug and play ready, sign up for VIP membership here.
Back
Top